Vietnam technology company NextTech Group of Technopreneurs has launched a $10-million early-stage-focused fund that will function as a venture builder-venture capital hybrid.
Called Next100, the fund will participate in seed rounds of startups with an investment of $100,000 to $1 million, in a bid to boost the burgeoning startup ecosystem of the country and help technology entrepreneurs to carve out a path to success.
The fund will coach startup founders to raise larger rounds of capital from other local and international investors as they scale.
“Target audience for Next100 are technology startups who are digitising traditional industries, or traditional startups that are leveraging technology to increase efficiency and productivity in their respective sectors; with the common goal to disrupt or optimize traditional practices to deliver new added value for society,” said Dao Minh Phu, Managing Partner of Next100, at the launch event.
Apart from Vietnam, NextTech, established in 2001, operates in 8 other markets across Southeast Asia and China within 4 major sectors including e-commerce, fintech, e-logistics and education with 15 portfolio companies.
The company claims to have nearly 2,000 staff and is currently processing an annual transaction volume of close to $3 billion.
Next100 recently announced the completion of investments in startups that include names such as VayMuon.vn (Vietnam’s P2P lending platform), Heyu.asia, (a provider of order consolidation and shipper services); and Teky.edu.vn (a technology backed academy for kids).